Nat Gas Short - Selena Gomez... back to 1992?Resistance at 3.10 with potential to head back to low levels see back in the early 90's.
NGAS
NGAS. Ready to shortNAtural Gas is coming back from the historical minimums but looks like growing potential is limited. NGAS has already climbed almost 70% since March!
A fibo level 261.80% of W5 may become a top here. Will try a short from this level (2.838), targeting 2.160 figures. SL: 3 figures
NG possible target area
If the current daily candle hold below the trendline shown in the chart..the downside target could be huge
NGAS SHORT IDEA Neutral for now until showing down trend confirmation. Strange how it's higher this time of year for the rest of the world vs norther areas (such as north US shown blocked here).
NGN2016Haven't posted a natty count in a while. While the bearish count target for wave (v) of 5 is unchanged, wave (iv) did come significantly higher than I anticipated. Credit to the experts at www.ElliottWaveTrader.net for giving me the idea to consider the bullish alternative shown in green. The structure of green wave i of (iii) through April isn't quite to my liking, but its worth consideration.
I've been excited about potential for natty to complete its long term correction - and have warned in previous ideas about shorts overstaying your welcome - so I'm prepared to start looking at long entries IF support holds and impulsive waves form off intermediate lows.
I'm currently short UNG 7 puts expiring in July, small position.
Point c handcap bearish cypher patternGood entry at 2.516
Then you can choose to have SL at 2.772 or 3.092. I would recommend the 2.772 which is risk effective as you can see trend is up.
TP1 1.948
TP2 1.609
And as you can see as price will consolidate at point D the RSI will likely to consolidate at an overbought state which make this setup high probable trade.
Trade with care
Thanks
Natural Gas (NGAS) At tough point.Really nice setup going on here. If it gaps above thiss line that would be the ultimate confirmation. I am pretty long NGAS for the moment though like other commods.
I am waiting to Sell High - #ProfitingMe - http://profiting.meHi,
the bullish momentum is still strong but the price is going to converge with a massive Supply Level. I will wait to sell high, IF this will be possible of course.
Thank you
Girolamo Aloe - profiting.me
DXY Ready to Resume Uptrendthe Dollar has been beaten up lately, but it is poised to come back strong in the next day. The notes are on the chart. If any of my trend lines get broken, this idea is invalidated. I believe that this increase will coincide w/ a strong decrease in Gold, Oil, Nat Gas, and S&P. I will try to release those near term forecasts tonight.
Strong Spike converging to Supply - #ProfitingMeHi,
#NGAS is very interesting in this moment, it is converging to supply with a very strong bullish momentum. This makes the financial instrument appetibile for a sell opportunity in relation with the risk of course.
Thank you
Girolamo Aloe - profiting.me
NGAS testing long-term bearish trend lineNot an asset I would recommend to trade given it's highly volatile nature, but I find this chart interesting. Last Friday's high (27/05/16) allows us to establish a trend line starting from February 2014's highs. Hard to say what might happen here, but if prices break above this trendline (resistance at $2.19) sometime in the next week or so, we'd probably see a follow through in bullish momentum with a possible target of $2.4. At around this level, prices would hit another trend line, which would perhaps be followed by a correction in the market. Any break above $2.5 would provide technical reasons to believe that natgas would have room to move higher over the medium term. This is obviously a really bullish scenario, and I suspect that prices won't just rise in a straight-line fashion if some of these resistances break. So keep in mind that if the market starts falling after failing to break above $2.19 this upcoming week, prices could very well resume their bearish trend.
Natural Gas Forecast Natural Gas has dropped down to the bottom of the channel and is primed for a jump. There are bullish divergences on the hourly wavetrends, the Daily is working to turn up, and the Weekly/Monthly waves are strong. I this to coincide with a minor pullback of USD. My first target point is $2.33, but I'm hoping for it to jump up near $2.6. If it does go to $2.6, the retrace could set up a nice H&S reversal pattern at $1.82.
